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BURLINGTON, ON / ACCESSWIRE / August 15, 2017 / Memex Inc. (“MEMEX” or the “Company”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, announced today that in the 30-day period ending August 14, 2017, it has received more than $300 thousand in net-new purchase orders and component sales. In combination with MEMEX’s previous press release, the Company has announced in excess of $780 thousand (at today’s exchange rate) worth of purchase orders since July 12th, 2017.

“An increasing number of manufacturers are recognizing the compelling value proposition of IIoT and Data-Driven Manufacturing, leading them to select MEMEX as their vendor of choice,” said MEMEX President and CEO, David McPhail. “The Company has experienced an increase in purchase activity from multiple end customers that represent a diverse set of manufacturing sectors including oil and gas, industrial pumps, and industrial painting equipment. MEMEX’s MERLIN Tempus continues to offer our clients the capability to gain new, real-time insights into exactly what is happening on their factory floors, whether they are physically onsite, or observing their operations remotely. Our unsolicited, inbound inquiries continue to increase, as do client referrals, and current customer site expansion opportunities. When these sales activities are combined with our diligent trade show and thought leadership marketing efforts, designed to secure more sales opportunities and bring on additional new customers, we believe that the recent net-new orders are just the beginning.”

About MEMEX

Memex Inc. was founded with a vision to improve the way automated machinery and production equipment work and connect on the factory floor. Since then MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real Time. MEMEX’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 per cent. For more information, please visit: www.MemexOEE.com.

BURLINGTON, ON–(Marketwired – Jul 12, 2017) – Memex Inc. (“MEMEX” or the “Company”) (TSX VENTURE: OEE) announced it has received a purchase order from SEW-EURODRIVE for $500 thousand (approx.) in a plant-wide deployment of MERLIN Tempus Enterprise Edition (EE) and MERLIN DNC software.

SEW-EURODRIVE, the Lyman, South Carolina-based producer of gearmotors and drive-based automation solutions, will install MEMEX’s machine-monitoring solutions onto most of the factory equipment housed in its 250,000 square-foot manufacturing facility.

“SEW-EURODRIVE researched very carefully for the right supplier of automated machine monitoring solutions and determined that MEMEX’s MERLIN was best able to capture the quality of data we were looking for,” said Jess Galloway, SEW-EURODRIVE’s Manufacturing Superintendent. Chuck Chandler, Plant Manager, added, “It is important for a world class manufacturing facility to have visibility of all operations and the use of these advanced data-driven manufacturing techniques extends our competitive edge.”

“We’re proud that SEW-EURODRIVE selected MEMEX after a thorough and careful competitive evaluation process,” said MEMEX President and CEO David McPhail. “SEW-EURODRIVE started with a MERLIN pilot, and has now committed to a full-plant roll-out of MERLIN Tempus EE and MERLIN DNC. This says a lot about how much value SEW-EURODRIVE places in the adoption of a data-driven manufacturing approach and in the MEMEX solution, in particular. We’re excited to work with SEW-EURODRIVE and are looking forward to helping this industry-leading manufacturer use data-driven manufacturing to achieve its business productivity and efficiency goals.”

MERLIN DNC is a software plug-in to the MERLIN platform. It offers a browser-based interface that connects legacy CNC tools to modern networks, and allows CNC programs and data to be easily transferred.

About SEW-EURODRIVESEW-EURODRIVE is a world leader in drive technology and a pioneer in drive-based automation. Since introducing the gearmotor in 1931, the company has had a history of innovations, including the first variable speed gearmotor, early electronic drives, and the first motor with energy-efficient copper rotors. Over the last seven years, the company’s Lyman, South Carolina plant has more than doubled its manufacturing capacity to meet growing customer demand.

About MEMEXMemex Inc. was founded with a vision to improve the way automated machinery and production equipment work and connect on the factory floor. Since then MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real Time. MEMEX’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 per cent. For more information, please visit: www.MemexOEE.com

David McPhail in conversation with James D. Sawyer – Editor Emeritus, Advanced Manufacturing

A manufacturing concern can get the greatest return on its investment by optimizing its overall equipment effectiveness, or OEE. In this podcast hosted for SME, MEMEX CEO David McPhail details the relationship between OEE and the Industrial Internet of Things (IIoT). Data, he explains, is what drives this relationship. Data-driven manufacturing consists of keeping track of everything that happens on the shop floor, and software, including MEMEX’s MERLIN Tempus solution, helps monitor and manage that data.

BURLINGTON, ON–(Marketwired – Jun 27, 2017) – Memex Inc. (“MEMEX”) (TSX VENTURE: OEE) announced today that in the past six weeks (ending June 21, 2017) it has received more than $380 thousand of purchase orders. These are an aggregate of net-new orders and follow-on orders from existing customers.

“We believe these stronger recent results are an indication that the U.S. manufacturing technology market is beginning to strengthen, and that MEMEX’s efforts to revitalize its sales process and strategy are proving effective,” said MEMEX president and CEO David McPhail. “Existing customers are seeing significant improvements in the operating efficiency of the machines already connected in real time to the corporate network via MERLIN. These customers are now extending those benefits to the rest of their equipment to maximize both productivity and profits.”

Beyond existing customers expanding their deployments with MERLIN, new customers are also recognizing MEMEX as the vendor of choice with proven solutions that work on industry standards to help them remotely manage and monitor their equipment in real time and gain a better perspective of exactly what is happening on their shop floors.

“We are starting not only to see a recovery in US manufacturing spending, but we also feel more confident in the recent changes at MEMEX, including hiring a new U.S.-based vice president of sales, allowing a key executive to focus on business development and marketing, and reinvigorating the sales force,” said Mr. McPhail. “I believe the recent net-new orders are just the beginning. MEMEX has been working diligently to secure more sales and bring on additional new customers.”

About MEMEX

MEMEX was founded with a vision to improve the way automated machinery and production equipment work and connect on the factory floor. Since then, MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future,” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real Time. MEMEX’s software and hardware IIoT solutions enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profits, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300%. For more information, please visit: www.MemexOEE.com.

REQUIRED CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION

Certain statements contained in this news release, including statements related to MEMEX’s belief that the recent net-new orders are just the beginning and that MEMEX has been working diligently to secure more sales and bring on additional new customers, constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. MEMEX believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and should not be unduly relied upon. In particular, no assurance can be given that the current trend in net-new orders will continue or that that MEMEX will secure more sales or bring on additional customers. Information on additional risks related to MEMEX’s business is included in our management’s discussion and analysis of our financial results for the year ended September 30, 2016 which may be accessed through the SEDAR website (www.sedar.com). The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. These forward-looking statements and information speak only as of the date of this news release. MEMEX does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

BURLINGTON, ON–(Marketwired – Jun 26, 2017) – MEMEX Inc. (“MEMEX” or the “Company”) (TSX VENTURE: OEE) today announced management changes to capitalize on the growing number of sales opportunities precipitating from the rebound in U.S. manufacturing.

MEMEX has hired John Artman as the Company’s Vice President of Sales. Mr. Artman will leverage his past senior management sales experience to mine MEMEX’s existing U.S. pipeline and develop new markets and growth opportunities. John Rattray, has transitioned from Vice President of Sales to Senior Vice-President of Business Development and Marketing.

“MEMEX weathered an extended period of business uncertainty stemming from the vague capital cost allowance and NAFTA policies of both U.S. presidential election candidates. Data from the Association of Manufacturing Technology (AMT) now indicates that U.S. manufacturers are comfortable with the new political reality and are investing in capital infrastructure again,” said MEMEX President and CEO David McPhail. “Given this, we felt it was best to refocus our human capital. I’m very pleased that John Rattray has gladly accepted the challenge to lead our marketing team. I’m also delighted that an industry sales veteran like John Artman saw the potential presented by MERLIN TEMPUS to optimize American manufacturing, leading him to join the Company.”

Mr. Artman, who is based in Sellersburg, Indiana, is an electrical engineer who has held senior management and sales positions at numerous U.S.-based automation and manufacturing technology companies. Most recently, he was Vice President of Sales, Business Development and Marketing at Simplimatic Automation. Before that, he held senior positions at Bishop-Wisecarver Group, Jacobs Automation, Bodine Assembly & Test Systems and Wright Industries. Mr. Artman will continue to work from his office in Indiana.

“The value proposition presented by MERLIN TEMPUS surpasses all other industry solutions,” said Mr. Artman. “MEMEX is a growing company, and industry adoption of MERLIN is a testament to the Company’s strong leadership, vision and teams. I am starting to see increased confidence from U.S. manufacturers who seem ready to make purchasing decisions to grow revenues, reduce costs, and increase profitability. I’m convinced that that MEMEX’s MERLIN software platform will become a key component for manufacturers to achieve these goals.”

Mr. Rattray added, “With MEMEX’s growth and the indications of a U.S. manufacturing recovery, it makes sense to expand our sales management into the U.S. Adding John to the team and giving him the responsibility to lead our sales growth allows me to focus more intently on business development, brand development, and marketing.”

Mr. McPhail also noted that these management changes better position the Company to meet the growing demand for Data-Driven Manufacturing solutions — a demand he expects to increase as more manufacturers add new technology and equipment to their facilities. To optimize the performance of the additional machines, McPhail says Data-Driven Manufacturing — the process which automates machine monitoring and management — will be required to ensure the equipment is being used in the most efficient manner possible.

U.S. Manufacturing Recovery

AMT-compiled data indicates that manufacturers are again spending on new equipment. Manufacturing technology orders totalled $324.46 million during the month of April 2017, a 12.3% year-over-year increase from April 2016. From January 1, 2017 through April 30, 2017, orders were up 2.1% compared to the same period in 2016. AMT also found business confidence among U.S. manufacturers was at its highest level in 13 years.

About MEMEX

MEMEX was founded with a vision to improve the way automated machine and production equipment work and connect on the factory floor. Since then, MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real Time. MEMEX’s software and hardware IIoT solutions enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profits, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300%. For more information, please visit: www.MemexOEE.com.

Strong End to the Quarter as Manufacturing Spending Begins to Recover

BURLINGTON, ON–(Marketwired – May 29, 2017) – Memex Inc. (“Memex” or the “Company”) (TSX VENTURE: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its second quarter financial and operational highlights for its 2017 fiscal year, which ended March 31, 2017. All results are reported in Canadian dollars.

Summary Financial Highlights for the Second Quarter Ended March 31, 2017:

Memex reported revenue of $348 thousand, 39% lower than the same quarter a year ago;

Gross margin of 32.1% was down from 53.5% reported the same quarter a year ago — (excluding Amortization and Client Services labour, which was up 1.42% in the current quarter over a year ago, gross margin percentage on variable expenses is down only 4.2% in the current quarter over a year ago).

Bookingsi for the quarter were $573 thousand, down 31% from the same quarter a year ago;

The Company reported a net and comprehensive loss of $1.26 million for the quarter, equating to a $0.011 loss per share. This compares with a $991 thousand net and comprehensive loss in Q2 last year, and a $0.010 loss per share.

At March 31, 2017, the Company had $3.12 million in current assets including $2.23 million in cash (down from $3.00 million last quarter) and $1.97 million in working capital.

The final two weeks of the quarter brought in more than $400 thousand in new and follow on orders.

Management Commentary:

“During the first six-months, Memex and the broader manufacturing industry saw decreased investment due to uncertainty concerning trade both before and after the U.S. Presidential election,” said David McPhail, President and CEO of Memex. “The American Manufacturing Association (AMT) echoed our observations, but AMT anticipates that a manufacturing resurgence should occur in the Spring. We have seen recent signs of this resurgence in our sales leads and orders. Given our strong cash balance and low burn rate, we are well positioned to weather this temporary market disturbance.”

Selected Financial Information for Q2 2017

Three-months period ended
March 31

Six-months period ended
March 31

(Canadian dollars – in thousands except per share and margin%)

2017

2016

Change

2017

2016

Change

Revenue

348

571

– 39%

853

1,185

– 28%

Bookingsi

573

833

– 31%

965

1,710

– 44%

Gross margin %

32.1

53.5

– 40%

46.7

57.4

– 19%

Operating expenses

1,362

1,338

+ 2%

2,435

2,384

+ 2%

Cash utilized in operating activities1

1,172

976

+ 20%

1,904

1,620

+ 18%

Net and comprehensive loss for the period

(1,236)

(991)

+ 27%

(2,025)

(1,632)

+ 24%

Basic and diluted loss per share – period

(0.011)

(0.010)

+ 10%

(0.018)

(0.017)

– 7%

1. Before changes in non-cash working capital balances.

As at
(Canadian dollars – in thousands except WC ratio)

March 31, 2017

September 30, 2016

Cash on hand

2,232

2,899

Current assets

3,124

4,156

Total assets

3,587

4,639

Current liabilities

1,150

1,047

Working capital*

1,974

3,109

Working capital ratio**

2,72 to 1

3.97 to 1

Backlogii

997

848

* Working Capital = current assets – current liabilities

** Working Capital ratio = current assets / current liabilities

Summary Financial Highlights for the Six-months Ended March 31, 2017:

Memex reported revenue of $853 thousand, 28% lower than the same period a year ago;

Gross margin of 46.7% was down from 57.4% reported the same period a year ago – – (excluding Amortization and Client Services labour, which is down 2.75% in the current YTD over a year ago, GM% on variable expenses is down only 1.8% YTD over a year ago).;

Bookings(1) for the period were $965 thousand, down 44% from the same period a year ago;

The Company reported a net and comprehensive loss of $2.03 million for the period, equating to a $0.018 loss per share. This compares with a $1.63 million net and comprehensive loss in the prior year period, and a $0.017 loss per share

The final two weeks of the quarter brought in more than $400 thousand in new and follow on orders.

About Memex Inc.

MEMEX was founded with a vision to improve the way automated machine and production equipment work and connect on the factory floor. Since then MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time. MEMEX’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 per cent. For more information, please visit: www.MemexOEE.com

Neither the TSX Venture Exchange nor its Regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

i & ii These non-IFRS financial measures are identified, defined and reconciled to their closest IFRS measures, revenue and unearned revenue, within our Management’s Discussion and Analysis for the periods ended March 31, 2017 and 2016, in the section “Other Financial Measures.” That MD&A is available at www.sedar.com under our company profile.

Memex was ranked 4th in the Technology category (out of 131 listings) based on a ranking formula which equally weights market cap, trading volume, and share price. To commemorate this achievement, CEO David McPhail will join other TSX Venture 50 representatives at a market opening ceremony on Friday, February 24th, 2017.

“It is an honour to be selected as one of the leading technology companies for the TSX Venture 50,” said David McPhail. “The award is a testament to our corporate vision, innovative product offerings, and execution in the growing Industrial Internet of Things market. We are well positioned in IIoT and are excited about our growth opportunity in 2017 and beyond. This achievement was made possible through the continued support and confidence MEMEX received from its employees, shareholders, customers, and other business partners.”

About TSX Venture 50:

The TSX Venture 50 is an annual ranking by the TMX Group of 50 upcoming companies on the TSX Venture Exchange. The list is determined by assigning equal weighting to share price appreciation, trading volume, and market capitalization growth. The companies in the list have results in key measures of market performance.

About MEMEX:

MEMEX was founded with a vision to improve the way automated machine and production equipment work and connect on the factory floor. Since then MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time. MEMEX’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products has enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 per cent. For more information, please visit: www.MemexOEE.com.

Dave McPhail, President and CEO of MEMEX Inc., stated, “Following our Tempus debut at IMTS last September, we received significant interest in the platform’s next-generation, machine monitoring / analytics capabilities. Several of these inquiries led to beta tests with a number of clients and prospects, and their feedback was overwhelmingly positive.

With MERLIN Tempus and MERLIN Tempus EE, MEMEX is again redefining what it means to truly know what is happening in your manufacturing operations, regardless of industry vertical served. MEMEX has long been recognized as the leader in both shop floor monitoring, as well as providing MTConnect software and hardware solutions for any piece of manufacturing equipment on the plant floor. These new products will further differentiate MEMEX from the competition.

MEMEX’s entirely new software and hardware platforms build upon the success of the current award-winning MERLIN software suite and connectivity products, which has enabled manufacturers to achieve upwards of a 50% increase in productivity, a 20% plus increase in profit on just a 10% increase in OEE and payback in less than four months, which all equates to an Internal Rate of Return greater than 300%.”

About MERLIN Tempus and MERLIN Tempus Enterprise Edition:

MERLIN Tempus is an open and extensible Manufacturing Execution System (MES) platform that offers the next generation of tools and a dynamic configurable dashboard that provides a complete customizable view of shop floor operations. Tempus is Latin for time. MERLIN Tempus measures and analyzes manufacturing time. MERLIN Tempus tells manufacturers exactly how time is being used on their shop floors, with operators, with sensors and with any type of manufacturing asset. Developed using state-of-the-art software engineering technologies, including .NET and RESTful API’s, MERLIN Tempus delivers green-light metrics and analytical capabilities to effectively reduce downtime while increasing throughput and profits. MERLIN Tempus EE extends the capabilities of the MERLIN Tempus platform with full Overall Equipment Effectiveness (OEE) and integrated job scheduling. MERLIN Tempus supports MTConnect, Fanuc Focas, Fanuc I/O link to MTConnect®, OPC and other software protocols.

MERLIN Tempus and MERLIN Tempus EE are highly scalable, extensible and are open Manufacturing Execution System platforms. This is significant because it greatly simplifies and truly enables customers and partners to build upon the countless features and services MERLIN Tempus has to offer.

About MEMEX:

MEMEX, the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the accelerating adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on corporate networks, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement. For more information, please visit: www.MemexOEE.com.

SANTA CLARA, California, Jan. 19, 2017 /PRNewswire/ — Based on its recent analysis of the global machine monitoring systems market, Frost & Sullivan has recognized MEMEX Inc. with the 2016 Global Frost & Sullivan Award for Product Leadership. With this award, MEMEX receives worldwide acclaim for its turnkey machine monitoring and automation solutions, especially its flagship product, MERLIN, a next generation scalable IIoT communication platform. The company continuously improves its products to stay relevant to a cross section of customers from the aerospace, automotive, and advanced industrial sectors. It further sets itself apart with its outstanding technical service, support, training, and software developm

By offering true shop floor to top floor communication and visibility at plant- and enterprise-level along with enhanced data collection, and tailored reporting capabilities, MERLIN presents specific data results that customers need to make strategic decisions reducing their overall capital expenditure. The MERLIN platform connects the shop floor with the top floor of any manufacturing facility by leveraging the Industrial Internet of Things (IIoT) Mega Trend in its overall concept and design. Acknowledging the importance of user friendliness, MEMEX designed the system in a way that the installed communications base and open machine integration software collects and houses all machinery data in a single, easy-to-access control panel and displays the data on an interactive dashboard. Furthermore, MERLIN helps customers track and understand various performance metrics displayed on its system dashboard and performance trend charts.

“One of the distinguishing features of MERLIN is its operator portal, with its ability to perform machine-related operator inputs through a Microsoft Windows-based application,” said Frost & Sullivan Research Analyst, Rohit Karthikeyan. “This parameter-driven software allows operators to quickly tailor the operator portal to display the information they need on their personal devices. It makes the machine information accessible while still channeling operator information inputs, commands, and notices through the plant’s communication platform.”

MERLIN MTC-One, a circuit board hardware that connects machines to a network with multiple analog and digital inputs

MEMEX has taken innovation a step further by including product features such as the HTML-based widgets in the dashboard presentation layers of MERLIN. These widgets permit customers to smoothly tailor their data reporting to show only specific and relevant machine performance information to production teams. Combined, these features result in a highly scalable data reporting solution.

“MEMEX looks to make ‘cross-industry machine connections’ by providing machine and process monitoring, OEE, and communications functionalities,” noted Karthikeyan. “No other machine monitoring system offers such a solution, and it helped MEMEX achieve its mission of measuring manufacturing excellence.”

Each year, Frost & Sullivan presents this award to the company that develops a product with innovative features and functionality that is gaining rapid acceptance in the market. The award recognizes the solution quality and the customer value enhancements it enables.

MEMEX Inc., the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the accelerating adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on the corporate network, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement. For more information, please visit:www.MemexOEE.com

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion.

Overall equipment efficiency (OEE) is considered a critical measurement of how well a manufacturing unit is doing. The formula is simple: It multiplies the percentages of availability, performance and quality to yield a single percentage. This result enables similar units (one machine, one department, one plant or an entire enterprise) to be compared or rated against a target such as a plant’s best record or a benchmark of world-class performance. Focusing on OEE enables manufacturers to pinpoint factors that hold back productivity.

Significantly, recent developments in data-driven manufacturing make calculating OEE easier, faster and more accurate—and acting on it more effective. For example, these benefits are an important advantage of connecting machine tools to a network for data collection and monitoring.

However, shops and plants must also focus on profitability. Managers have to balance decisions about maximizing the part-making capability of their equipment with decisions about the money-making potential of this equipment. OEE ratings alone provide an incomplete picture. One development that seeks to address this shortcoming is called Financial OEE (FOEE), a trademarked name for a new feature of MERLIN Tempus Enterprise Edition (EE) from Memex.

MERLIN (Manufacturing Enterprise Real-time Lean Information Network) is a communications platform for real-time manufacturing analytics. Tempus is the company’s suite of applications for machine monitoring such as real-time views of the plant floor, custom dashboards, reporting, alerting and other functions related to data-driven manufacturing. Tempus EE adds OEE, job scheduling and other modules such as FOEE.

Memex has partnered with noted OEE expert and author Robert Hansen to develop this approach. FOEE answers the question, “What is the value of improving OEE on this particular machine for this particular product?” More to the point, it answers “How much profit is being left on the table by not performing at company-best or industry-best levels for that specific part?” Thus, the FOEE concept shows the power of data-driven manufacturing and the Industrial Internet of Things to transform decision-making not only on the shop floor, but also in the front office.

Tempus EE automatically collects the event details necessary to compute OEE. The first phase of FOEE applies to stand-alone machines making a finished product. FOEE requires three key financial input values for each product and the machine. These inputs are unit sales price, unit material cost and the hourly operational expense (OPEX) of the machine. This information can be derived from the ERP product standard and the income statement.

FOEE is the current-state hourly profit divided by a value representing a world-class level of profit. This ratio tells a company what profit it made compared to what profit could have been made at world-class levels. With this information, a company can see the financial value of improving the machine’s performance.

In the figure on page 40, a product called P0006 is analyzed over 180 days. The product-run OEE data is correlated with the three inputs necessary for FOEE. It also associates important actionable data such as profit contribution per hour and current FOEE based on the machine’s best FOEE percentage, as well as how much more profit would accrue by running the machine at its best OEE rate.

With FOEE, managers can look at jobs scheduled for a machine and make decisions based not just on utilization, but also on utilization and profit. This enables managers to compare a list of machines capable of running a certain job, and to determine which machine would yield the highest hourly profit. Just as the OEE figure related to each project or job is a key tool in prioritizing and evaluating continuous improvement projects, FOEE provides a quick view of the profitability opportunity for these projects. FOEE is a tool to make better business decisions for scheduling products, guiding continuous improvement efforts and giving important feedback to sales and marketing teams.

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About Memex

MEMEX, with its visionary attitude, has been on the leading-edge of the convergence of the industry trends in Computing Power, Connectivity of Machines, Industry Standards, Advanced Software Technology, and Manufacturing Domain Expertise. MEMEX is the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in real-time.